Credit Buyback as a Solution to the Difficulties of Revolving Credit

Many people decide to apply for several loans to ensure the payment of various activities, with significant costs, such as buying a house or a motor vehicle, as well as preparing for a wedding. However, ensuring the repayment of different loans is not the simplest situation and sometimes leads to many inconveniences. Fortunately, there is a much more advantageous solution: credit consolidation.

What are the disadvantages of having multiple loans?

Having different loans also means multiple contacts and, inevitably, various contracts to sign; not to mention several premiums to pay monthly. Consequently, managing these different administrative elements can often prove complicated. Especially since the accumulation of various premiums can quickly constitute a very high amount, sometimes difficult to pay.

What is revolving credit?

Linked to a credit card, revolving credit is a reserve of money whose amount varies depending on the cardholder and their needs. This type of loan is repaid based on the amount spent using this card.

At first glance, this borrowing technique seems advantageous and interesting. Unfortunately, it often proves to be quite misleading. Indeed, managing one’s money correctly becomes more difficult since it is possible to have a lot of it. Repaying the multiple installments, sometimes very costly, can therefore be burdensome.

Why opt for credit consolidation?

Credit consolidation offers a significant number of advantages! With a single contract and contact, your administrative management is greatly simplified. Moreover, you only have to pay one premium per month, at a lower cost compared to the accumulation of several loans. Indeed, these can be consolidated into a single mortgage loan, provided there was already one before. Another alternative is to establish an installment loan using the various credits. As the amount to be paid becomes larger, the interest rates are lower and the monthly payment less costly.